AUSTIN, Texas, Sept. 18, 2018 (GLOBE NEWSWIRE) -- Bungalo, the first real estate platform to bring every step of the home buying process together in one seamless digital experience, today announced its official launch on bungalohomes.com. Bungalo empowers buyers to search, tour, finance, make an offer and close on a home all in one place. Every home on the platform is purchased, inspected and meticulously renovated by Bungalo, which means buyers can be certain that they are moving into a beautiful, modern, high-quality space.
Bungalo is backed by Amherst, a leader for over 20 years in developing innovative, data-driven investment solutions for institutional investors, retail investors and owner-occupants of residential real estate. Amherst Residential has invested $225 million to launch Bungalo, and has committed to investing an additional $1 billion in 2019 to support continued innovation and expansion across new and existing markets.
“Amherst has a long standing history of innovation in residential real estate that has been focused on providing transparency and superior quality services to the $35 trillion U.S. housing market, and the launch of Bungalo is the next step in our mission to transform residential real estate,” said Drew Flahive, President of Amherst Residential. “To date we’ve raised over $5 billion of institutional capital and currently manage more than $3 billion of residential real estate in 28 markets. Amherst’s national scale, local market expertise and on-the-ground operations allow us to uniquely serve institutional investors and now enable Bungalo to empower consumers to successfully navigate the home buying experience.”
Bungalo brings transparency, certainty and convenience to residential real estate, which has lagged behind other industries in the era of on-demand consumer services. Not only is the home buying experience time consuming and complicated, but inventory in most U.S. metros is limited and in need of modernization. For many home buyers, renovation is out of the question given the hassle, cost and time required to transform an older space. Bungalo offers move-in ready, high quality homes and takes the confusion and stress out of the home buying experience with an intuitive online experience that is paired with a team of experts available to guide buyers through every step of the way.
“It’s increasingly difficult to find the right home, especially if you are looking to avoid the stress and uncertainty of a fixer upper,” said Greg Stewart, Chief Operating Officer of Bungalo. “Bungalo offers buyers modern, beautifully renovated homes in established and desirable neighborhoods.”
Bungalo’s online platform features exclusive listings that have undergone a complete renovation to certified quality standards, featuring high-quality materials, designer finishes, stainless steel appliances, and smart home advances. Before listing, Bungalo conducts a 160-point quality inspection and each home comes with a 30-day Quality of Craftsmanship Guarantee and 1-year Whole-Home Warranty so buyers can feel confident in their purchase. With transparent, no-haggle pricing and no hidden fees or bidding wars, buyers can rest assured there will be no surprises.
“The customer experience is rapidly evolving and constantly improving in essentially every consumer vertical, yet the home buying process remains unnecessarily tedious and overwhelming. Bungalo offers a 21st century solution to the age old process of buying a home,” said Stewart. “For the first time ever, Bungalo provides your clear path home. We’re transforming residential real estate from end to end, delivering modern, move-in ready homes paired with a seamless online experience and access to expert guidance every step of the way. This is home buying the way it should be.”
Bungalo homes are now available in the Dallas - Fort Worth, Texas metro and in Tampa, Florida, and the Company plans to rapidly expand into new markets later this year. To learn more, visit bungalohomes.com and sign up to be the first to know when Bungalo is coming to your neighborhood.
About Bungalo
Bungalo is the first real estate platform to modernize existing housing inventory to meet 21st century standards and offer every piece of the home buying experience under one roof. Bungalo is backed by Amherst, a proven leader in developing innovative investment solutions in the real estate capital markets, driven by data, analytics and technology. Bungalo’s online platform empowers buyers to search, tour, finance and close on exclusive listings all in one place. Buyers have the choice to finance their home with Bungalo Mortgage, a Bungalo affiliate company, which offers a seamless online experience in which buyers can be pre-approved and underwritten within just 48 hours. With Bungalo’s transparent, no-haggle pricing, all homes are sold on a first-come-first-served basis and never sell above the listing price—no hidden fees, no bidding wars. In addition, every Bungalo home undergoes a complete renovation, culminating in a 160-point quality inspection before final sale and a Quality of Craftsmanship Guarantee that reflects the company’s commitment to transparency and quality even after move-in so new buyers don’t encounter any surprises leading to more projects and unanticipated costs.
https://bungalohomes.com
About Amherst
Amherst is a proven leader in developing innovative investment solutions in the real estate capital markets. Driven by data, analytics and technology, Amherst has a 20-year history of anticipating where the next risks and opportunities are likely to emerge and designing actionable strategies for investors to capitalize on opportunities across residential real estate, commercial real estate and public securities. Amherst, along with its affiliates and subsidiaries, has more than 800 employees and over $13 billion under advisement and oversight. Amherst Residential, a subsidiary of Amherst, is a vertically-integrated real estate platform that is uniquely positioned across all aspects of the single-family housing market, with services targeting institutional investors, retail investors and owner-occupants of single-family real estate. Since its creation in 2012, Amherst Residential has raised more than $5 billion of debt and equity capital to manage its portfolio of more than 20,000 homes across 28 U.S. markets. www.amherst.com.
Media Contacts
Randi Stock
Bungalo - Vice President, Marketing
press@bungalohomes.com
Jessica Rutledge
Amherst Residential - Vice President, Marketing & Communications
jrutledge@amherst.com